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Home prices may not return to peak until 2023
by Les Christie
CNN Money
NEW YORK (CNNMoney) — Home prices are showing signs of life, but have a long way to go to make up for losses from the housing bust.
U.S. home prices dropped by a third from the start of 2007 to the start of 2012, according to Fiserv, an analytics firm.
Fiserv forecasts prices will bounce back an average of 3.7% a year for the next five years — a rate that would still leave prices 20% below the peak. At that forecasted growth rate, the national average high of $238,000 would not be hit again until 2023.
It could take even longer in some areas. “In some hard-hit markets, prices could take decades to recover,” said Fiserv economist David Stiff.
Continue Reading at Money.CNN.com…
2012-09-29 02:24:40
Source: http://totalinvestor.blogspot.com/2012/09/scott-close-of-eurasian-minerals.html
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